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CCMP Capital invests in Chaparral Energy

Chaparral Energy, an independent oil and gas production and exploitation company, has entered into a definitive agreement with affiliates of CCMP Capital Advisors under which CCMP will invest USD345m to acquire a significant ownership stake in the company.

Since its inception in 1988, Chaparral has increased reserves and production by acquiring and enhancing properties in its core areas of the Mid-Continent and the Permian Basin.

Beginning in 2000, the company expanded its geographic focus to include Ark-La-Tex, North Texas, the Gulf Coast and the Rocky Mountains.

“We are extremely pleased to be partnering with CCMP,” says Mark Fischer (pictured), chairman and chief executive of Chaparral. “With its extensive experience investing in leading energy companies, we believe CCMP is the ideal partner to take us to the next level. CCMP’s exceptional operating resources will allow us to sustain our growth through a balanced programme of acquisitions, exploitation, development and exploration.”

Christopher Behrens, managing director of CCMP, adds: “We are excited to have the opportunity to partner with an outstanding management team with a proven track record of success. Chaparral has a solid core asset base in regions with attractive unit economics.”

CCMP’s founders have invested in energy companies since 1990. Selected energy investments include Bear Paw Energy, Bill Barrett, Brand Energy and Infrastructure Services, Carrizo Oil and Gas, Encore Acquisition, Latigo Petroleum, Patina Oil and Gas, and Vetco International.

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